Terrence Pegula Net Worth

Terrence Pegula Net Worth is$4.6 Billion

Terrence Pegula Bio/Wiki 2018

He is #458 in the World Billionaires List, #367 in the year 2012, #150 in the United States, and #132 in the Forbes 400 List according to Forbes.com. Produced Terrence M. Pegula on March 27, 1951 in Carbondale, Pennsylvania, he graduated with a BS in engineering through a scholarship from Pennsylvania State University despite beginning school as a math major. After graduation, he joined Getty Oil.

Terrence Pegula Net Worth $4.6 Billion

In 1983, Pegula founded East Resources, a natural gas drilling company, using a loan of $7,500 from his family and friends. 1983’s big gain came after it found the deep layers of natural gas in the Marcellus Foundation. He also bought Pennzoil Assets in 2000. In May 2010, he finally sold the Pennsylvania, New York, and Rocky Mountain assets of the business to Royal Dutch Shell for an approximate of $4.7 billion in cost. The organization continues to hold oil & gas assets in West Virginia. After the selling of his gas and petroleum business, he shifted his interest and money to the game of ice hockey. He purchased his hometown teams, the Buffalo Sabres in the National Hockey League (NHL) and also the Buffalo Bandits indoor Lacrosse team for $189 million in February 2011. He contributed $102 million to his alma-mater Penn State to aid construct a hockey stadium, the Pegula Ice Arena, and field a division one team. He also gave another $12 million to Houghton University for their Kerr-Pegula Sports Complex.